Flagship Harbor Advisors LLC Sells 616 Shares of McKesson Corporation $MCK

Flagship Harbor Advisors LLC cut its stake in shares of McKesson Corporation (NYSE:MCK) by 40.2% in the fourth quarter, Holdings Channel reports. The fund owned 917 shares of the company’s stock after selling 616 shares during the period. Flagship Harbor Advisors LLC’s holdings in McKesson were worth $753,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in MCK. Brighton Jones LLC lifted its holdings in shares of McKesson by 46.3% during the fourth quarter. Brighton Jones LLC now owns 2,523 shares of the company’s stock valued at $1,438,000 after acquiring an additional 798 shares during the period. Caxton Associates LLP bought a new position in shares of McKesson during the first quarter valued at $233,000. Sivia Capital Partners LLC lifted its holdings in shares of McKesson by 77.9% during the second quarter. Sivia Capital Partners LLC now owns 685 shares of the company’s stock valued at $502,000 after acquiring an additional 300 shares during the period. Cresset Asset Management LLC lifted its holdings in shares of McKesson by 28.7% during the second quarter. Cresset Asset Management LLC now owns 1,176 shares of the company’s stock valued at $863,000 after acquiring an additional 262 shares during the period. Finally, Baker Avenue Asset Management LP lifted its holdings in shares of McKesson by 15.0% during the second quarter. Baker Avenue Asset Management LP now owns 738 shares of the company’s stock valued at $540,000 after acquiring an additional 96 shares during the period. 85.07% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on MCK. Robert W. Baird set a $968.00 price target on McKesson in a report on Wednesday, January 14th. Bank of America cut their price target on McKesson from $1,040.00 to $1,000.00 and set a “buy” rating for the company in a report on Monday. Morgan Stanley reaffirmed an “overweight” rating and issued a $966.00 price target on shares of McKesson in a report on Thursday, January 29th. Evercore reaffirmed an “outperform” rating on shares of McKesson in a report on Thursday, March 5th. Finally, Barclays lifted their price target on McKesson from $960.00 to $1,050.00 and gave the company an “overweight” rating in a report on Wednesday, February 18th. Thirteen research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $970.93.

Insider Buying and Selling

In other news, EVP Michele Lau sold 2,725 shares of the business’s stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $990.00, for a total transaction of $2,697,750.00. Following the completion of the transaction, the executive vice president directly owned 3,247 shares in the company, valued at approximately $3,214,530. The trade was a 45.63% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Leann B. Smith sold 190 shares of the business’s stock in a transaction dated Tuesday, February 17th. The stock was sold at an average price of $945.00, for a total value of $179,550.00. Following the transaction, the executive vice president owned 2,989 shares of the company’s stock, valued at $2,824,605. The trade was a 5.98% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 3,592 shares of company stock valued at $3,518,555 over the last 90 days. 0.08% of the stock is owned by corporate insiders.

McKesson Stock Up 1.7%

Shares of MCK stock opened at $870.81 on Thursday. The stock has a 50-day moving average price of $914.48 and a 200 day moving average price of $849.12. The firm has a market cap of $106.67 billion, a price-to-earnings ratio of 25.04, a PEG ratio of 1.26 and a beta of 0.42. McKesson Corporation has a 12 month low of $637.00 and a 12 month high of $999.00.

McKesson (NYSE:MCK) last announced its quarterly earnings data on Wednesday, February 4th. The company reported $9.34 EPS for the quarter, topping analysts’ consensus estimates of $9.19 by $0.15. The firm had revenue of $106.16 billion during the quarter, compared to analyst estimates of $105.98 billion. McKesson had a negative return on equity of 338.97% and a net margin of 1.09%.The company’s revenue was up 11.4% on a year-over-year basis. During the same period last year, the company earned $8.03 earnings per share. McKesson has set its FY 2026 guidance at 38.800-39.200 EPS. Sell-side analysts predict that McKesson Corporation will post 32.77 earnings per share for the current fiscal year.

McKesson Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 1st. Stockholders of record on Monday, March 2nd were given a dividend of $0.82 per share. This represents a $3.28 annualized dividend and a dividend yield of 0.4%. The ex-dividend date was Monday, March 2nd. McKesson’s payout ratio is presently 9.43%.

About McKesson

McKesson Corporation (NYSE: MCK) is a global healthcare services and distribution company that supplies pharmaceuticals, medical-surgical products and health care technology solutions. Founded in 1833 and headquartered in Irving, Texas, McKesson operates across the drug distribution and healthcare services value chain, connecting manufacturers, pharmacies, hospitals and health systems to help manage the movement of medicines and clinical supplies.

The company’s core activities include pharmaceutical wholesale distribution and logistics, specialty pharmacy services, and the provision of medical-surgical supplies to acute and non-acute care providers.